Case-Shiller: Home Prices Fall Nationally and in DC
The latest Case-Shiller report released this morning showed that seasonally-adjusted home prices fell 1.1 percent nationally between November and December 2011, and have dropped by about 4.0 percent since December 2010. The index reported that home prices in the DC area decreased on a monthly basis (-1.2%) and annual basis (-1.6%).
Case-Shiller December 2011
While home prices in the DC area fell month-over-month, a closer look at the data reveals that the drop was in the middle and upper price tiers in the area. Between November 2011 and December 2011, area prices decreased in the middle tier (homes between $293,756 and $457,827) and the high tier (above $457,827), but increased slightly in the low tier (under $293,756).
When considering the Case-Shiller findings, recall that the index is based on closed sales and home price data from several months ago. Another thing that is important to note is that the main index only covers single-family home prices, so co-op and condo prices are not included in the analysis that is widely reported. Chicago and New York City are two of the cities where Case-Shiller provides a separate index for condo prices, but DC does not have a similar index.
Lastly, and perhaps most importantly when considering the conclusions of the index, the area covered by Case-Shiller can only very loosely be described as the “DC area”. According to the site, the following cities are included: DC, Calvert MD, Charles MD, Frederick MD, Montgomery MD, Prince Georges MD, Alexandria City VA, Arlington VA, Clarke VA, Fairfax VA, Fairfax City VA, Falls Church City VA, Fauquier VA, Fredericksburg City VA, Loudoun VA, Manassas City VA, Manassas Park City VA, Prince William VA, Spotsylvania VA, Stafford VA, Warren VA, Jefferson WV.
See other articles related to: case-shiller, dc home and condo prices, home prices
This article originally published at https://dc.urbanturf.com/articles/blog/case-shiller_home_prices_fall/5211.
Most Popular... This Week • Last 30 Days • Ever
DC continues to get close to meeting Mayor Muriel Bowser's goal of producing 36,000 n... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
Plans for another residential project in downtown Bethesda are moving forward.... read »
On Wednesday, Airbnb launched the Icons Collection, approximately a dozen "one-of-a-k... read »
The application could be a sign that plans to redevelop a pair of former church prope... read »
- 34,000 And Counting: DC Is 96% of Way Towards Meeting 2025 Housing Production Goals
- RFK Stadium Cleared For Demolition
- Site Plan Filed For 68-Unit Condo and Townhouse Project in Downtown Bethesda
- Airbnb Unveils Icons, One-Of-A-Kind Listings For Free
- Raze Application Could Pave Way For 45-Unit Condo Development At Former Church Site in Shaw
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro